Flowers Foods Completes Hostess Bread Buyout
THOMASVILLE, Ga. (AP) – Flowers Foods Inc. has completed its $355 million acquisition of several breads, bakeries and other assets from the Dallas-based company previously known as Hostess Brands LLC.
Georgia-based Flowers said Monday that the deal strengthens its position as the second-biggest baker in the U.S. because the breads and bakeries will expand its reach geographically into new markets.
The transaction includes the Wonder, Nature’s Pride, Merita, Home Pride and Butternut bread brands, 20 bakeries and 36 depots. Flowers received regulatory approval for the deal with Old HB Inc. earlier this month.
Flowers in February announced it agreed to buy the assets. The court overseeing the Old HB bankruptcy proceeding approved the sale a month later.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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